I would think it would be hooked up to an account based system... Just log into your PSN/Live/UGamer account and play away.
The third is also the most awkward, let's say I want to take Driver: San Francisco to a friend's house that means we can't go online with it unless he pays ten dollars. It makes things complicated. It also lowers the worth of used games which means people would get a lot less money selling them because stores would devalue them. A lot of people sell games to pay for their next system, if this thing spreads then they would get a lot less when buying new consoles.
And used games are the exact issue we're trying to combat here. It takes away a LOT of money from devs. If EBgames (Gamestop for those who are south of me) paid developers a portion of the profits, then we wouldn't be seeing this issue. Not as large, anyway.
